April 24, 2024

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[THE INVESTOR] Korean companies’ equity and debt sales rose 22.3 percent on-month in February as sales of bonds grew on expectations of gains in market interest rates, government data showed on March 27.

Local companies raised 14 trillion won (US$13 billion) by selling stocks and bonds last month, up 2.55 trillion won from a month earlier, according to the data from the Financial Supervisory Service.

Stock sales, including five initial public offerings, jumped 97.7 percent on-month to 956.7 billion won last month.

The value of corporate bonds floated in February, including bank bonds and asset-backed securities, rose 18.9 percent from a month earlier to 13.44 trillion won.

An ABS is a security whose income payments, and hence value, are derived from and backed by a pool of underlying assets.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)